How to Open a BPI Savings Account

Bank of the Philippine Islands (BPI) is one of the best banks in the Philippines. Recently, BPI was awarded by Finance Asia as the as the best cash management bank in the Philippines. Finance Asia also named BPI as the best trade finance bank in the Philippines. BPI has two subsidiary banks – BPI Family Savings Bank and BPI Direct.

Overview of BPI Bank Philippines

BPI Bank is focused primarily on corporate accounts like salary account of employees. BPI Family Savings Bank is catered on individual savings accounts or for individual person who may not be an employee. While BPI Direct is focused primarily on mobile, telephone and online banking.

These three banks have differences to each other like maintaining balance requirements and interest rate for savings account. BPI Savings account has a maintaining balance requirement of 3000, BPI Family Savings Account requires only 1000 and BPI Direct has maintaining balance as low as 500.

BPI Interest Rates, Initial Deposit and Maintaining Balance

It is very important as an account owner that you know the interest rate for the savings account you are opening. In the same way, you should also know how much is the initial deposit when opening a new account and the maintaining balance you should have in your account to avoid penalty.

You can see the post that I published here to learn more about the interest rate, initial deposit and the required maintaining balance to earn interest for each type of BPI savings account. Bookmark this page for your future reference.

Steps in Opening a BPI Savings Account

In order to open a BPI savings account, you need to do the following and bring the needed requirements for opening a savings account.

1. Visit the BPI branch of your choice and bring the following requirements for opening a savings account.

Two (2) valid and recent IDs with your name and picture (Updated: As per Bangko Sentral ng Pilipinas guideline, a one valid photo-bearing ID is enough to open a new bank account, click here to learn more about this)

One Photocopy of each ID you will submit

IDs acceptable for opening a savings account can be: Passport, Driver’s license, Professional Regulations Commission (PRC) ID, National Bureau of Investigation (NBI) clearance, Police clearance, Postal ID, Voter’s ID, Barangay certification, Government Service and Insurance System (GSIS) e-Card, Social Security System (SSS) card, Philhealth card, Senior Citizen Card, Overseas Workers Welfare Administration (OWWA) ID, OFW ID, Seaman’s Book, Alien Certification of Registration/Immigrant Certificate of Registration, Government office ID (e.g. Armed Forces of the Philippines (AFP), Home Development Mutual Fund (HDMF) IDs), Certification from the National Council for the Welfare of Disabled Persons (NCWDP), Department of Social Welfare and Development (DSWD) Certification, Other valid IDs issued by the Government

2.) Upon entering the bank, proceed to New Account Desk. Tell the bank officer you want to open a savings account and then fill-up all forms that will be given to you.

3.) Give the initial deposit for your savings account. Your initial deposit should be equal or more than the maintaining balance. For BPI ATM savings account, P3,000 and BPI ATM Family savings account, P1,000. For BPI savings account with passbook, P10,000 is the maintaining balance.

4. Claim your ATM card or passbook after 3-5 banking days. You may also ask the bank employee when you can get your ATM so you can be sure.

Final Note

BPI savings account has many different types and it’s your duty to choose which one is the best for you. Normally, many people just open an ATM account because it has the lowest initial deposit but if you want the traditional, you can open a passbook savings account.

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Hi,
Good day!
I would like to open a new account but I am here presently in The Kingdom Of Saudi Arabia,Jeddah since 2009.
Although I have already an existing Account It’s just the said account isn’t Active anymore.
I hereby request your good office to assist me Continuing using your service.
Due to financial problem why I wasn’t able to maintain my previous account,Bank location @ Cainta Junction Ortigas Avenue Extension,Cainta Rizal Philippines.
I really need you assistance with regards to my request.

I am American and would like to know if and how I could open a savings account or is their any way I could set something up like for example Cell phones double as electronic wallets in Philippines.
For now I will only be in Philippines for short visits, planning to relocate in the not to distant future.

hi! i am willing to open a savings account in bpi. may i ask if i can do a dollar account instead of peso account? and do you have a online banking jsut incase i want to check my account as soon as i get starting to have a savings account? what is the requirements for this?? hope you reply as you can.

Hi, I would like to ask regarding how an account would be closed.
I went thru some crises last month (August) and had to withdraw everything I had in my atm account. Now, that I have something spare to save again, I was wondering if my atm account is already deactivated.

good day! it’s written that i need to wait about 3-5 days to have my atm card. my question is, can i get my account number by the day i submitted the required documents? even if i still dont have the card?

awesome guide! I was just wondering, is it possible have multiple saving accounts under a single name? Like say, one I will use for work and another for personal matters. Thanks, keep up the good work.

sir may i ask if i can open a joint account in bpi with my partner, if my partner is in saudi arabia and i am in the phil? if bpi doesn’t have that kind of service, which bank offers that kind of service? thank you very much.